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(a) After evaluating the license application, the Commissioner may return the same to the applicant for any of the reasons below, without it being understood as a limitation:\n(1) The application was not filed in accordance with the provisions of this chapter or the rules or regulations promulgated thereunder.\n(2) The application lacks information or documents.\n(3) The license application filed seeks authorization to engage in a business not authorized in the Commonwealth of Puerto Rico.\n(b) In the event that the Commissioner returns the application, the amount paid for investigation costs and license fees shall be refunded to the applicant.\n(c) Upon evaluating an application to engage in a money service business and carrying out the corresponding investigation, the Commissioner may deny such application if he/she deems that the applicant has failed to meet any of the requirements set forth herein.\n(d) An applicant whose application to engage in a money service business has been denied may request reconsideration to the Commissioner within twenty (20) days following the notice of denial.\n(e) In the event that the Commissioner denies a license, he/she shall retain the amount

denied may request reconsideration to the Commissioner within twenty (20) days following the notice of denial.\n(e) In the event that the Commissioner denies a license, he/she shall retain the amount paid for investigation costs and refund the license fees to the applicant.\nHistory —Sept. 21, 2010, No. 136, § 2.3, eff. 60 days after Sept. 21, 2010.